Fulbright's Financial Reform Task Force
M. Benedict and Blake
Section 922 of the Dodd-Frank Wall Street Reform and
Consumer Protection Act authorized the SEC to reward whistleblowers for
reporting violations of federal securities laws to the government and created a
private cause of action for employees who are retaliated against in connection
with making such reports.
The SEC's final rules implementing Dodd-Frank are
codified in the Securities Exchange Act §21F ("Securities Whistleblower
Incentives and Protection"). The rules, effective August 12, 2011,
establish procedures (a) for making a report to the SEC of suspected securities
laws violations, (b) for making a monetary reward to the whistleblower after a
successful SEC enforcement action, and (c) for challenging the SEC's award
here to read the full article.
Fulbright & Jaworski Publications page for more analysis of legal issues.
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